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Downtown Retail / Hotel <br />August 2017 <br />MJB Consulting / <br />Greensfelder Commercial RE <br />28 <br /> <br />General Retail Trends <br />The shift toward enjoying experiences more than purchasing goods <br />(commodity vs. specialty) will continue to move retail stores toward selling <br />experiences rather than selling goods. <br />Both consumers and cities want retail that is walkable from housing. <br />Retail and residential developers, and cities will need to work closely to <br />create cohesive developments to satisfy this evolving consumer. <br />Suburban Main Street/Town Center-style developments will replace <br />shopping centers. <br />There will be an 86 percent surge in household formations to 12.5 million <br />households over the coming decade in comparison with the prior decade. <br />This surge will drive purchases in all stores that cater to new households, <br />particularly renters (58 percent of the net new households). <br />Stores and services catering to older buyers will flourish too, thanks <br />to a 38 percent surge in the country’s population 65 and older from <br />2015 to 2025. <br />